GNMA (Ginnie Mae) is a governmental organization that guarantees mortgage-backed securities. When mortgages have been funded, they are then sold on a secondary market. GNMA facilitates this. Homebuyers in the market will ever interact directly with GNMA, except insofar as they may have a loan that is resold and repackaged under GNMA’s guarantee. When purchasing a home under such a loan, a homebuyer will need a tax ID, whether it is an EIN, SSN, or ITIN.
Mortgages under GNMA are usually FHA loans, targeted towards first-time home buyers. These home buyers would be using an SSN or an ITIN, depending on if they are a legal citizen. An EIN would be needed if an LLC, LLP, or other corporation was purchasing a property with a GNMA loan, though this is rare.
Investors can invest in GNMA securities through a broker. In this situation, the investor may need an EIN depending on how the investments are being made; if they’re being purchased through a retirement account, for instance, the retirement account would have a separate EIN. An investor needs at least $25,000 to begin investing in GNMA securities.